Aviation had a disappointing H1 with the Spanish contract failure and operational issues at Gatwick whilst Distribution has traded well and has also completed an interesting acquisition. A strong H2 will be required to meet forecasts (38:62 split) and improvement in the Aviation performance will be important for investor confidence. The share price, however, will continue to be driven by M&A activity and potential activism and we expect the price to remain around current levels. Adjusting our SO ....
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Disappointing Aviation trading
- Published:
18 Aug 2015 -
Author:
Jon Lienard -
Pages:
4
Aviation had a disappointing H1 with the Spanish contract failure and operational issues at Gatwick whilst Distribution has traded well and has also completed an interesting acquisition. A strong H2 will be required to meet forecasts (38:62 split) and improvement in the Aviation performance will be important for investor confidence. The share price, however, will continue to be driven by M&A activity and potential activism and we expect the price to remain around current levels. Adjusting our SO ....